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10:43
13.10.2017
KASE Board of Directors fixed Q4 2017 discount rates for calculation of fair value of illiquid debt securities of organizations – residents of Republic of Kazakhstan
News source: KASE
/KASE, October 13, 2017/ – Following the October 12, 2017 decision of Kazakhstan
Stock Exchange (KASE) Board of Directors, the following discount rates for 
calculation of the fair value of illiquid debt securities issued by 
organizations  – residents of the Republic of Kazakhstan – for the fourth
quarter of 2017  were fixed.

- Bonds Category of Main Market – 10.95 % APR;

- Bonds Category of alternative market – 12.55 % APR;

- Commercial Bonds of Main Market – 14.19 % APR.

The Board of Directors decided not to define the discount rate for debt
securities from the buffer category before deals in this category's securities
are concluded due to the absence of representative selection on securities of
that category for calculation of the rate based on results of twelve months
preceding that quarter.

We remind you that the mentioned discount rates are fixed in accordance with the
Rules of Accounting and Evaluation of Pension Assets approved by Resolution No. 
24 of February 26, 2014 of the Management Board of the National Bank of the 
Republic of Kazakhstan (the Rules).

According to item 17 of the Rules the Exchange must weekly release on its
website  data on the fair value of illiquid debt securities issued by
organizations-residents of  the Republic of Kazakhstan and included in the
Exchange's official list. At this the  mentioned securities mean securities
whose market value (yield) cannot be  calculated in accordance with the
Exchange's internal document "Methodology of  Securities Valuation".

According to item 16 of the Rules the fair value of the mentioned securities is 
defined based on the Exchange's internal document "Methodology of Calculation of
the Weighted Average Yield of Debt Securities", whereas the discount rate is
used as such yield. Discount rates on the mentioned securities are determined
by the Exchange's Board of Directors once a quarter for each particular
category of sector "debt securities" of the Exchange's official list based on
the above-mentioned Methodology based on the annual weighted average yield in
the respective category (sub-category) based on results of twelve months
preceding this quarter.

[2017-10-13]


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